Now Discussing

This Is How Easily You Can Have Money Stolen From Your Contactless Card

26 July 2018, 09:05

An LBC investigation shows just how easy it is for criminals to steal money from your contactless card - without you knowing anything about it.

Using a hidden portable card reader, our reporter was able to show that scammers can steal £30 a time from a victim's bank account.

LBC's Bev Rimmer said of her experiment: "We came away with £90. Our participants knew we were up to something - and we gave the money back straight away."

Last year, there were £14million of losses on contactless cards or mobile devices, against £52billion spent on the cards.

Contactless card payments.
Picture:
LBC

Criminal lawyer Joseph Kotrie-Monson told LBC: "The reality is that once journalists are talking about this, it is a massively rife problem that has been completely underestimated by the finance industry.

"These numbers of £14million from last year. That's last year's figures. The current figures will be much, much higher."

UK Finance told LBC: "The money is fully traceable to a recipient's account.

"In the unlikely event it did happen, the victim would be fully protected against losses, unlike if cash is taken."

A contactless card being used.
Picture:
LBC

Ways To Avoid Being Victim Of Contactless Card Crime

- Use an RFID-blocking wallet to protect contactless cards.- Wrap your contactless card in aluminium foil. There are also cards you can buy that block contactless signals.- Don't keep your card in an obvious place, such as your back pocket.- If your card is lost or stolen, make sure to report it to your bank or card issuer as soon as possible.- Keep an eye on bank statements to look for any payments that you didn't make.

Download the app

Follow Us

Your privacy is important to us. We want to better help you understand how and why we use your data.
You’ll continue to enjoy LBC and all of its great content and features! View our Privacy Statement for more details.